China regulator facilitates compensation following restaurant blast
BEIJING - An emergency response mechanism has been launched to help local agencies and financial institutions provide insurance compensation services in relation to a deadly restaurant blast in northwest China's Ningxia Hui autonomous region, said the National Financial Regulatory Administration on Friday.
The explosion occurred at 8:40 pm on Wednesday at Fuyang Barbecue Restaurant in Yinchuan, capital of Ningxia, leaving 31 dead and seven injured.
The administration said it will oversee the activities of insurance institutions to accelerate settlements and simplify procedures.
A total of 22 people on the casualty list were insured and the restaurant was also covered by property insurance, the administration said.
The amount of compensation exceeds 14 million yuan (1.95 million US dollars) and the first batch of prepayment is already in place, it said.
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